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Dec 8, 2012
12/12
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CNNW
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mostly because of fiscal cliff concerns and higher tax concerns. that said, i agree with ken. this is a larger issue that nobody is willing to talk about, the third rail of american politics -- entitlements. we can't raise taxes enough to compensate for what we need in our democrat kbrafk situation on entitlements. these are fundamental issues. it's important to understand that not only have we seen investment decline and the composition of employment. the manufacturing sector not showing big gains. the investment side of the equation not showing big gains. that shows delays in hiring and defer meant by the fiscal cliff. it's clear that we are at a fork in the road. we can choose to enhance our role in the global economy by taking the situation and making responsible decisions or by deliberately slitting our own economic throats we'll lose what credibility we have left. i think we are at the fork in the road now. >> john, instilling confidence would be a big role for washington. you know, there isn't a great deal of confidence in washington. there is less in congress. at this
mostly because of fiscal cliff concerns and higher tax concerns. that said, i agree with ken. this is a larger issue that nobody is willing to talk about, the third rail of american politics -- entitlements. we can't raise taxes enough to compensate for what we need in our democrat kbrafk situation on entitlements. these are fundamental issues. it's important to understand that not only have we seen investment decline and the composition of employment. the manufacturing sector not showing big...
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Dec 8, 2012
12/12
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MSNBCW
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no ifs, ands or buts on that specific aspect of the fiscal cliff. >> with respect to the tax rates, i want to emphasize, i am open to new ideas. i'm not going to slam the door in their face. i want to hear -- i want to hear ideas from everybody. >> that's not a no. here is the treasury secretary timothy geithner. >> there's no agreement that doesn't involve the rates going up on the top 2%. >> not necessarily going up to the clinton era rates. just going up. today at a press conference at the capital, bain got a question about this. listen carefully to how he responded or didn't respond. >> you did speak with the president earlier this week. can you characterize this call? and also we understand that he just is making clear that it's got to be increasing rates for the wealthy or no deal. are you willing to give a little bit? maybe just not all the way to 39.6? >> the phone call was pleasant, but just more of the same. the conversations that the staff had yesterday, just more of the same. it's time for the president, if east serious, to come back to us with a counteroffer. >> not a no
no ifs, ands or buts on that specific aspect of the fiscal cliff. >> with respect to the tax rates, i want to emphasize, i am open to new ideas. i'm not going to slam the door in their face. i want to hear -- i want to hear ideas from everybody. >> that's not a no. here is the treasury secretary timothy geithner. >> there's no agreement that doesn't involve the rates going up on the top 2%. >> not necessarily going up to the clinton era rates. just going up. today at a...
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88
Dec 8, 2012
12/12
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but you can see the pieces coming together, as you laid out, on the fiscal cliff. some increase in marginal tax rates coupled with some kind of cutting back on tax expenditures. the real concern is shifting or will shift from the fiscal cliff to the debt limit. it's not at all clear that the republicans will agree to including a debt limit increase in that kind of package. if they don't, we may get past december 31st only to find ourselves with a big problem in february or march. >> the obama administration, the white house has been very clear, they will not sign anything, even to get past december 31st. that doesn't include a debt ceiling of some sort. so do you think they can hold firm on that if republicans offer them a package that doesn't include the debt ceiling? >> this is where i think the tension is now arising, which is even if you have some agreement over the tax rates which will jam the republicans a bit, can you jam them on the debt limit also. i think the concern will be an administration overstepping or overreaching and trying to jam a debt limit inc
but you can see the pieces coming together, as you laid out, on the fiscal cliff. some increase in marginal tax rates coupled with some kind of cutting back on tax expenditures. the real concern is shifting or will shift from the fiscal cliff to the debt limit. it's not at all clear that the republicans will agree to including a debt limit increase in that kind of package. if they don't, we may get past december 31st only to find ourselves with a big problem in february or march. >> the...
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Dec 8, 2012
12/12
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when you hear about the concern about the fiscal cliff, it is not the tax rates. i do not buy that. i do not think we need to increase the tax rates. >> if you go over and the tax rates go up, all of that goes away. >> we should not do it. we should resolve this. it depends on whether we then do something about it in the next month or two after it. we set ourselves on a path to do something within 30, 60, or 90 days and we are clear about that. people do not believe we will do it unless we do something. that is our worries. >> as part of that second stage, does the top rate have to end at 39.6? are there ways democrats can accept something in between bush and clinton if it was coupled with a reduction in the ability of people to take certain deductions or credits? would you see a top rate below 39.6 when the dust settles? >> i do not want to second-guess what we may decide. i think we should go to 39%. that is not what we should be debating. i do not think it is instead of >> it is in addition to. >> yes. having that debate now suggests that that is all we have to do. most people wh
when you hear about the concern about the fiscal cliff, it is not the tax rates. i do not buy that. i do not think we need to increase the tax rates. >> if you go over and the tax rates go up, all of that goes away. >> we should not do it. we should resolve this. it depends on whether we then do something about it in the next month or two after it. we set ourselves on a path to do something within 30, 60, or 90 days and we are clear about that. people do not believe we will do it...
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Dec 8, 2012
12/12
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FOXNEWSW
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one of the things about this fiscal cliff debate that bothers me, even if we raise taxes on the top two or three% and the president may reveil. then you go into 2013 and i heard the discussion on the debt which was fantastic. even if we do the tax increases on the rich they're not going to raise that much money and not that many people that make over 400 $500,000 a year and that means if the liberals want a fund these new programs and they want to bring this trillion dollar debt down. you know where they have to go, eric, who are they going to have to tax. they're f are not going to be w on the very rich, 1 or 2%, they're going to go after the middle class, at least howard dean was being honest. >> clayton: people watch fox and other networks with a different perspective on taxes and what not. >> eric: the reality is, we have a spending problem, steve. how much money we're actually taxing, tax revenues are going up. >> they have to. >> eric: it's a spending issue. if we're putting a trillion dollars into the deficit you can't fix that with taxes. >> no, you sure can't. eric, when i firs
one of the things about this fiscal cliff debate that bothers me, even if we raise taxes on the top two or three% and the president may reveil. then you go into 2013 and i heard the discussion on the debt which was fantastic. even if we do the tax increases on the rich they're not going to raise that much money and not that many people that make over 400 $500,000 a year and that means if the liberals want a fund these new programs and they want to bring this trillion dollar debt down. you know...